Outlook 07/25: U.S. stock futures look balanced waiting for new drivers. Today, Facebook earnings after the bell will be the day's most anticipated report, though Tuesday's reaction to Google's report casts doubt on the notion that big tech earnings will help boost to new highs.
/ESU8 Value: YVAH 2829 YPOC 2823 YVAL 2820
/ES Plan: Yesterday closed balanced and overnight looks slight bearish (GBT 2811), moving below yesterday's value, so we've these options:
A) If market remains below YVAL-LVN 2820 with bearish internals, try to sell leaning on 2820 towards ONL 2814 GAP 2812 GBT 2811 and LVN 2806. 'Look above and fail' is a bearish signal.
B) If market starts to move above YVAL-LVN 2820 with bullish internals, become a buyer above 2820 towards ONH 2821.75 YVAH 2829 and PBT 2834. 'Look below and fail' is a bullish signal.
Tips: Consider the habits of the product you trade, such as '10 Handle Rule' 'Value Area Rule' and 'One Tick Failure'. More info on Glossary.
Today's Economic Calendar
10:00 New Home Sales
10:30 EIA Petroleum Inventories
01:00 PM 5-Year Note Auction
Disclaimer: All information on this outlook is for educational purposes only and is not intended to provide financial advice.
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